Biotechnology company RadioMedix has raised $40 million in series A funding; the company plans to use the new funding to advance its flagship radiopharmaceutical, AlphaMedix.
Phase 2 of AlphaMedix's clinical trials began in the last quarter of 2021, according to the Oct. 6 RadioMedix news release. Portland Investment Counsel led the funding round, and RadioMedix will appoint Portland founder and CEO Michael Lee-Chin to its board of directors.
"We are living in an exciting time with the treatment of difficult cancers. Targeted radionuclide therapy with beta and alpha emitters and specific radiopharmaceutical diagnostic probes are among the most innovative emerging technologies available to us," RadioMedix Chair and CEO Ebrahim Delpassand, MD, said. "This funding will accelerate our efforts to make several of these medications available to our patients."